Operators have upper hand in down real estate market

Operators looking to renegotiate their leases or move to more advantageous locations are in the driver’s seat as more restaurants and retail businesses become casualties of the unforgiving recession.

Landlords eager to keep their spaces filled are more amenable than ever to cutting deals, including reduced rents, generous build-out allowances and management agreements, especially for operators they view as having the cachet to attract customers, observers say.